Costa Rica: Development Bank to have fewer resources
The Development Bank system will have access to fewer resources, because the allocations of resources from the Fund for Productive Restructuring, determined by the management committee of the National Production Board (CNP) is reducing its contribution by more than half.
Thursday, April 24, 2008
In January of last year the Fund's budget provided about 22 million colons (about 42 million dollars), but yesterday Javier Flores, Minister of Agriculture, confirmed that it would provide just 10 billion colons this year.
Farmers, entrepreneurs and professionals will be able to present their proposals to compete for part of the $84 million that the Government made available to start the fund.
The reform proposal submitted by the Government does not have the full backing of the Legislative Assembly.
These credits have been distributed among 243 projects of micro and small entrepreneurs.
The definition of the conditions and requirements for customers will be the responsibility of each entity, as determined in its policies and risk analysis.
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